“Moved me emotionally”— Shark Tank judge Todd Graves on investing in passionate entrepreneurs

ABC released the latest episode of Shark Tank on November 22, 2024, featuring a new set of entrepreneurs hoping to impress investors. The episode saw the return of Raising Cane's owner, Todd Graves, who appeared as a guest shark.

Graves invested in two companies and even convinced Daymond John to join him as a mentor for one of them. He offered KaAn's Designs $75,000 as a loan for a 10% stake and invested $150,000 for 19% equity in Pepper Pong.

In an interview with Forbes on November 22, Todd shared that he has a soft spot for entrepreneurs, stemming from his own experiences as a founder. Hearing the personal stories and motivations behind each business pitch resonated deeply with him, evoking strong emotions.

“I’m a s*cker for an entrepreneur. Getting to hear firsthand that a deal means so much to them, that really moved me emotionally,” Todd stated.

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Todd Graves has invested $700,000 in his two appearances on Shark Tank

Todd Graves joined Shark Tank as a guest investor for two episodes, competing alongside seasoned investors Mark Cuban, Lori Greiner, Daymond John, and Kevin O'Leary. The episodes aired on October 25 and November 22, respectively. Todd ultimately invested approximately $700,000 in four emerging businesses, adding them to his diverse portfolio of around 100 investments.

His portfolio is dominated by his roughly 90% stake in Raising Cane's, which contributes to his estimated $9.5 billion fortune. Todd's affinity for compelling backstories stems from his own experiences. Born in Louisiana, his business plan for a chicken finger restaurant received the lowest grade in his college class.

Despite banks rejecting his loan applications, Todd persevered, working as a boilermaker and salmon fisherman in Alaska to accumulate the necessary funds. He eventually launched Raising Cane's in 1996, leveraging his earnings and a Small Business Administration loan.

Today, Raising Cane's boasts over 800 locations and generates $3.7 billion in annual sales. The chain remains committed to its original concept, offering chicken fingers, a limited selection of sides, and signature sauce.

He has also leveraged television appearances like Shark Tank to build his brand and showcase his community engagement initiatives, including Restaurant Recovery. It was a documentary series created to support independent restaurants during the COVID-19 pandemic.

Todd Graves successfully closed deals with KaAn's Designs in late August and Pepper Pong in late September. He also invested $300,000 in RigStrips, a company that produces magnetic protectors for cars, during his first episode.

Additionally, Todd collaborated with Shark Tank's Lori Greiner to co-invest $350,000 in TopSail Steamer, a business that offers cook-at-home seafood steampots.

Although it's not uncommon for sharks to renegotiate or back out of deals after episodes air, both Ashley Green of KaAn's Designs and Tom Filippini of Pepper Pong reported that Todd provided straightforward term sheets that honored their initial agreements.

The two companies are now working closely with Todd's investment team, including his financial advisor, accountant, and lawyer, and the Raising Cane's marketing team, to expand their brands and increase sales.

Raising Cane's is launching a collaborative effort with KaAn's Designs to promote the brand's apparel. Ashley Green expressed her appreciation for Todd's support, finding him to be an ideal investor. She revealed that Todd's team is dedicated to helping the companies grow and succeed.

“They have been amazing. I could not have asked for a better shark,” Ashley stated.

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Watch new episodes of Shark Tank on Fridays at 8/7c on ABC.